Rapidly growing Bristol-based café/bar group Loungers expects to have opened 34 new venues by the end of its current financial year as it continues to aim for a national chain of 600 outlets in the near future.
The group, which opened its first Lounge on North Street in Bedminster 21 years ago, is accelerating its roll-out of new venues following a strong recovery from the impact of the pandemic.
It recently announced the 600 target as sales across its portfolio continue to climb, increasing it from the 500 mark it had aspired to for around eight years.
Loungers, which now operates three brands – Lounges, Cosy Clubs, pictured, and its recently launched Brightside roadside eateries – opened 16 new sites during the six months to 1 October. In the equivalent period last year the figure was 11.
The group’s portfolio now stands at a total of 238 and spreads from St Ives in Cornwall, to Morpeth in Northumberland.
In a trading update for the 24 weeks ended 1 October the group said like-for-like sales grew by 7.7%, up from the 5.7% previously reported for the 12 weeks and reflecting a continuation of its strong sales performance since the pandemic.
Like-for-like sales during the half year were up by 25% against the six months prior to the pandemic. Total revenue to 1 October came in at £149.6m, up 22.3% on the same period last year.
Loungers CEO Nick Collins, pictured, said: “I am delighted with our strong trading performance across both the mature estate and our new openings.
“Our consistent sales growth reflects the continued evolution of our offer and the resilience of the UK consumer and high street.
“We have now opened 34 sites in the past 12 months, creating around 1,000 jobs in the process, and 72 sites since the last Covid lockdown.
“With a great pipeline of further openings in front of us I have never felt more optimistic about our prospects.”
Last month the group celebrated launching its 200th Lounge, Verdetto Lounge in Buckingham, which is based on roughly the same concept it has used since its first venue – all-day opening with a strong food offering and quirky décor.
This template has worked particularly well on suburban high streets and smaller town centres where rents tend to be cheaper and competition is mainly from coffee shops or traditional pubs.
The group now has 35 Cosy Clubs, which tend to be based in larger, city and town-centre buildings, and three Brightside roadside restaurants, all in the South West.
